2016 ANNUAL REPORT 1 Table of Contents
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2016 ANNUAL REPORT 1 Table of Contents 7 A LETTER FROM THE CHAIRMEN 8 EXECUTIVE SUMMARY 9 KEY PERFORMANCE METRICS 10 2016 ACCOMPLISHMENTS AT A GLANCE 11-14 STRATEGIC IMPERATIVE #1: ECONOMIC DEVELOPMENT Key economic development partners BizCONNECT FutuReady In-region and site selector recruitment familiarization tours Out-of-market lead generation recruitment trips Economic development by the numbers Economic development companies list 15-16 STRATEGIC IMPERATIVE #2: GLOBAL COMPETITIVENESS International delegation visits Global initiatives Research center Publish and implement legislative strategy 17-19 STRATEGIC IMPERATIVE #3: MARKETING & COMMUNICATIONS Launch of Connection Points and PERSPECTIVE Update newsletters Events and Discussions WaterStart rebrand & national media attention Communicating public policy priorities 20 STRATEGIC IMPERATIVE #4: OPERATIONAL EXCELLENCE LVGEA 2016 Revenues and Expenses Financials Year-end actual income Year-end actual expenses 21-24 INVESTORS 25 LOOKING AHEAD A Letter from Jonas Peterson, President & CEO 2 2016 Officers & Executive Committee OFFICERS Raymond Specht John S. Delikanakis Kirk V. Clausen CHAIRMAN VICE-CHAIRMAN/SECRETARY TREASURER Vice Chairman of Toyota Financial Partner at Snell & Wilmer L.L.P. Nevada Region President of Savings Bank Wells Fargo Bank N.A. EXECUTIVE COMMITTEE Glenn C. Christenson Richard T. Crawford Derrick R. Hill Jeff Parker Frank R. Woodbeck MANAGING DIRECTOR CHAIRMAN/FOUNDER VICE PRESIDENT VICE PRESIDENT EXECUTIVE DIRECTOR Velstand Investments, LLC Green Valley Grocery Cox Business/Hospitality Network Manpower Nevada College Collaborative for at Cox Communications Nevada System of Higher Education 3 2016 Board of Directors John Bailey Shelley Berkley Michael J. Bonner Susan Brager Brian Brannman MANAGING PARTNER CEO & SENIOR PROVOST CO-MANAGING CLARK COUNTY PRESIDENT/CEO, Bailey Kennedy, LLP Touro University Western SHAREHOLDER COMMISSIONER, DISTRICT F SIENA CAMPUS Division Greenberg Traurig, LLP County of Clark Dignity Health - St. Rose Dominican Hospitals Michael J. Brown Jason Bruckman Don Burnette John Cannito Dave Cheval PRESIDENT REGIONAL VICE PRESIDENT COUNTY MANAGER COO DIVISION PRESIDENT Barrick Gold USA Eastridge Workforce Solutions County of Clark The PENTA Building Group Stewart Title Company Michael Cunningham Jennifer DeHaven Betsy Fretwell Donald J. Giancursio Carolyn G. Goodman EVP, REGIONAL PRESIDENT PRESIDENT & CEO CITY MANAGER CEO / NV, UT, & ID MARKETS MAYOR Bank of Nevada Millenium Staffing Solutions City of Las Vegas UnitedHealthcare Nevada City of Las Vegas Rich Green James Holt Len Jessup Ben Kieckhefer Ken Ladd COUNCILMAN PRESIDENT PRESIDENT DIRECTOR OF SPECIAL ASSISTANT TO THE City of Mesquite National Security Technologies, University of Nevada, Las Vegas CLIENT RELATIONS PRESIDENT FOR GOVERNMENT LLC McDonald Carano Wilson LLP AND COMMUNITY AFFAIRS Desert Research Institute 4 2016 Board of Directors John J. Lee Robert E. Lewis Frank Martin John Martino John F. Marz MAYOR PRESIDENT PRESIDENT HENDERSON SITE DIRECTOR COUNCILMAN - WARD III City of North Las Vegas Lewis Management Corp. Martin-Harris Construction Barclaycard U.S. City of Henderson Michael Murphy Bill Noonan Kevin T. Orrock Tim Oudman Bart Patterson PRESIDENT & SVP INDUSTRY & PRESIDENT, SUMMERLIN MARKET VICE PRESIDENT PRESIDENT GENERAL MANAGER GOVERNMENT AFFAIRS AT The Howard Hughes Republic Services of Nevada State College Anthem Blue Cross and Blue BOYD GAMING Corporation Southern Nevada Shield in Nevada Las Vegas Metro Chamber of Commerce Shannon Petersen Michael D. Richards Randy Robison Brad Schnepf Mary Simmons EVP/STATEWIDE CORPORATE PRESIDENT DIRECTOR STATE EXECUTIVE VICE PRESIDENT VICE PRESIDENT OF BANKING MANAGER College of Southern Nevada LEGISLATIVE AFFAIRS Marnell Properties BUSINESS DEVELOPMENT & Nevada State Bank CenturyLink® COMMUNITY STRATEGY NV Energy Spencer Stewart Cam Walker Clark Wood CHANCELLOR MAYOR PRO TEM SENIOR VP WGU Nevada City of Boulder City MARKET PRESIDENT U.S. Bank 5 LVGEA Team Jonas R. Peterson Jared Smith Terrence Thornton Perry Ursem MORGAN BUNKER PRESIDENT AND CHIEF CHIEF OPERATING OFFICER VICE PRESIDENT OF VICE PRESIDENT OF VICE PRESIDENT EXECUTIVE OFFICER INVESTOR SERVICES AND BUSINESS RETENTION COMMUNITY & ECONOMIC DEVELOPMENT AND EXPANSION DEVELOPMENT Michael Walsh Antoinette Monroe Anthony J. Ruiz Michael Gordon, Ph.D. Nicole K. Santero VICE PRESIDENT OF DIRECTOR OF OPERATIONS SENIOR DIRECTOR, DIRECTOR OF STRATEGIC DIRECTOR OF ECONOMIC DEVELOPMENT COMMUNICATIONS AND INITIATIVES AND RESEARCH MEDIA RELATIONS PUBLIC AFFAIRS Kathy Parker Ariel Riley Chaad Taylor Veronica Turner Gayle Anderson SENIOR EXECUTIVE INVESTOR SERVICES AND SPECIAL PROJECTS ADMINISTRATIVE PROTOCOL OFFICER ADMINISTRATOR EVENTS MANAGER COORDINATOR COORDINATOR Kevin Bessey ECONOMIC DEVELOPMENT COORDINATOR 6 A Letter from the Chairmen Southern Nevada is again on the rise. Thanks to the business, political, and community leaders who supported LVGEA’s mission to grow and diversify the Southern Nevada economy, 2016 proved to be a record-setting year for economic development. Unemployment in Southern Nevada is at its lowest level since 2007. We have one of the fastest growing job markets in the nation, and our population continues to grow. All are positive signs that Southern Nevada’s economy will continue to flourish and expand. LVGEA’s strategy in 2016 has been to encourage community development and connectivity while aggressively and strategically recruit new industries while helping existing businesses to expand. We are proud to say that this strategy Raymond Specht is working. 2016 Chairman, LVGEA Vice Chairman, In 2016, the LVGEA worked with its members, community leaders, and various Toyota Financial Savings Bank political partners such as the Governor’s Office for Economic Development to attract 7,260 jobs to Southern Nevada. These jobs were created by dynamic companies like Amazon, the Honest Company, Hyperloop One, Sutherland Global, and Faraday Future. They are projected to have a $6 billion economic impact in our region over the next year. Companies that could do business anywhere in the world selected Southern Nevada and confirmed globally that Nevada is an excellent place to do business and an excellent place to live. In furtherance of that strategy, the LVGEA led the Southern Nevada business community in efforts to reform Nevada’s and Clark County’s educational system to create the competent workforce that businesses demand and that families moving to Southern Nevada deserve. LVGEA also partnered with various Southern Nevada chambers of commerce to create a Council of Chambers. Its purpose is to foster unanimity of mission among the chambers in conjunction with the LVGEA, and when possible, to speak with one voice as to economic development, particularly in the upcoming legislative session. We are also pleased to report that the LVGEA continued to grow its board of John S. Delikanakis directors to 46 members. The LVGEA has one of largest C-level business board in Incoming 2017 Chairman, LVGEA the southwestern United States, representing an incredible wealth of business and Partner, Snell & Wilmer L.L.P community knowledge dedicated to expanding and diversifying our economy. We believe that 2016 has been a successful year. We believe that we can all build on that success in the coming year to expand and diversify Southern Nevada’s economy even more. We hope you will take a few minutes to read this report and learn of the many ways the LVGEA is effecting positive change in Southern Nevada and what it hopes to accomplish in 2017. 7 Executive Summary The economy of Southern Nevada continues to recover from the previous economic downturn, thanks to the hard work of organizations like the Las Vegas Global Economic Alliance. All told, the LVGEA and its regional partners were able to add 7,260 jobs over 12 months, which will have a $6 billion economic impact over the next year. The LVGEA is able to succeed because it is driven by its mission to help Nevada’s residents thrive in a global economy by fostering a more prosperous, diverse, and connected regional economy. Since its reformation in 2012, the LVGEA has become a respected leader in economic development for its contributions in helping Nevada’s economy bounce back after the Great Recession. The organization has dedicated itself to growing Southern Nevada’s economy through connectivity, community development, and aggressive business recruitment, retention, and outreach. With the support of our community partners and investors, the LVGEA has become one of the most productive community and economic development organizations in the Southwest. THE LVGEA’S MISSION IS GUIDED BY OUR FOUR STRATEGIC IMPERATIVES: 1. Economic Development 2. Global Competitiveness 3. Marketing & Communications 4. Operational Excellence In the following pages, you’ll see how the LVGEA’s mission and strategic plan drove everything it did in 2016. 8 Key Performance Metrics The Las Vegas Global Economic Alliance publishes an Action Plan that informs all activities of the organization. The LVGEA measures its progress on achieving its mission and the strategic imperatives listed in its Action Plan by tracking key performance metrics. While much of the organization’s activity and actions must be measured quantitatively, the key performance indicators measure our qualitative economic and community development progress. KEY PERFORMANCE METRICS Strategy Metric Threshold Target Year End Performance Total Businesses Attracted or Expanded